Weis Markets (NYSE:WMK) Reaches New 12-Month High – Here’s Why

Weis Markets, Inc. (NYSE:WMK) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $79.07 and last traded at $78.14, with a volume of 91556 shares traded. The stock had previously closed at $75.68.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Weis Markets from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Weis Markets Stock Performance

The firm has a market capitalization of $1.94 billion, a PE ratio of 18.98 and a beta of 0.46. The stock has a fifty day moving average price of $70.83 and a 200-day moving average price of $68.74.

Weis Markets (NYSE:WMK) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.13 earnings per share for the quarter. Weis Markets had a return on equity of 7.75% and a net margin of 2.09%.The company had revenue of $1.26 billion for the quarter.

Weis Markets Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. Weis Markets’s dividend payout ratio is presently 33.01%.

Hedge Funds Weigh In On Weis Markets

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Weis Markets by 17.5% in the 1st quarter. Royal Bank of Canada now owns 8,120 shares of the company’s stock worth $626,000 after purchasing an additional 1,212 shares in the last quarter. AQR Capital Management LLC increased its position in Weis Markets by 9.2% during the 1st quarter. AQR Capital Management LLC now owns 14,798 shares of the company’s stock valued at $1,140,000 after buying an additional 1,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Weis Markets by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,775 shares of the company’s stock valued at $753,000 after buying an additional 405 shares during the last quarter. Norges Bank acquired a new stake in Weis Markets in the second quarter worth about $714,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Weis Markets by 107.0% during the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock worth $26,000 after acquiring an additional 184 shares during the last quarter.

Weis Markets Company Profile

Weis Markets, Inc (NYSE: WMK) is a regional supermarket chain headquartered in Sunbury, Pennsylvania, operating more than 200 stores across the Mid-Atlantic and Eastern Seaboard. Founded in 1912 by Harry and Sigmund Weis as a small produce and egg business, the company has grown into a full-service grocer serving Pennsylvania, Maryland, New York, New Jersey, Delaware, Virginia, West Virginia and Ohio. Weis Markets offers a broad selection of products including fresh produce, bakery, deli, dairy, meat and seafood, alongside grocery, general merchandise and prepared foods.

In addition to traditional grocery offerings, Weis Markets provides pharmacy services in many of its locations, as well as in-store fuel centers at select sites.